The Carbon Trust and the Energy Technologies Institute (ETI) have today called on wind energy firms to co-operate to help drive down the cost of offshore wind power.

The two government backed bodies have announced they are to invest £40m in offshore wind research and development (R&D) projects and are urging companies with experience in offshore wind technology and processes – including firms with relevant offshore experience such as oil and gas companies – to join the initiative.

The Carbon Trust said the scheme is expected to result in a small number of major R&D and demonstration projects designed to improve the cost and speed of deployment of offshore wind turbines.

"Offshore wind represents one of our best shots for delivering vast amounts of carbon-free power over the coming years and also represents a huge economic opportunity for UK plc," said Tom Delay, chief executive of the Carbon Trust. " However, to make this a reality, and the UK a world leader, we must focus on the number one issue of reducing the current costs of the technology."

Both private sector firms and public sector bodies such as universities will be invited to join the scheme, according to John Callaghan, technology strategy manager at the Carbon Trust. "We are asking interested parties to come forward and either co-finance projects or form R&D consortia," he said, adding that the focus of the R&D projects would be on improving turbine design, developing new foundation structures for deeper water turbines and improving maintenance processes.

Maria McCaffery, chief executive of the British Wind Energy Association, welcomed the move, adding that such investment was essential if the UK was to properly exploit its offshore wind potential.

The announcement comes days after the UK government proposed to open up much of the UK's continental shelf to offshore wind farms capable of generating around 33Gw of energy – equivalent to all the UK's domestic electricity needs.

However, some commentators criticised the announcement, claiming that offshore wind farms cost double that of their onshore counterparts. Dale Vince of wind energy company Ecotricity said that the plan should not come at the detriment of other renewable energy technologies, arguing that it could be construed as a way "of avoiding facing the noisy nimby minority who oppose onshore wind in this country".